Alexey Miller, Chairman of Gazprom’s Management Committee and Igor Markov, Chairman of the Board of Directors of ITERA Oil & Gas Company have inked an Agreement on Partnership for 2006 to 2010.

In accordance with the Agreement signed, ITERA will take part in expanding, reconstructing and modernizing the Gazprom Unified Gas Supply System as stipulated by the General Scheme for the Gas Industry’s Development up to 2030.

Gazprom and ITERA will also join efforts to develop and implement a project aimed at erecting infrastructure for the transmission of gas condensate from its production facilities (located on the fields developed by both companies) to final consumers.

Additionally, Gazprom and ITERA will take part in creating joint oil & gas chemicals production facilities.

The Agreement contemplates that ITERA will sell to Gazprom a portion of the gas produced as well as will get involved in supplying feedstock to Gazprom owned processing plants.

The companies intend to jointly take part in the socioeconomic development of the regions of corporate interest and to take measures for their environmental rehabilitation.

The joint projects set out in the Agreement will be implemented in accordance with the agreements and contracts signed between Gazprom and ITERA.